Lixte Biotechnology (NASDAQ:LIXT) stock is rocketing higher on Tuesday after the pharmaceutical company revealed pre-clinical results for one of its treatments.
This data was presented at the Annual Meeting of the American Association for Cancer Research by Professor René Bernards of the Netherlands Cancer Institute. It covered LB-100, which is Lixte Biotechnology’s lead clinical cancer compound.
According to this data, LB-100 induced further activation of oncogenic signaling in several KRAS-mutant cancers. This made them more vulnerable to anti-cancer therapy. The studies also showed marked increases in DNA damage and mitotic stress.
John Kovach, MD, Founder and CEO of Lixte Biotechnology, said this about Bernards’s recent studies of LB-100.
“His current observations of unexpected synergy of LB-100 with a variety of standard agents and with investigational compounds with only modest activity on their own are promising leads to a new approach to cancer chemotherapy.”
News of the positive cancer treatment results has LIXT stock seeing incredibly heavy trading today. As of this writing, more than 147 million shares of the company’s stock have been traded. To put that in perspective, the company’s daily average trading volume is closer to 62,000 shares.
LIXT stock is up 196.3% as of Tuesday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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